Gianluca Romano Sells 9,076 Shares of Seagate Technology (NASDAQ:STX) Stock

Key Points

• Seagate CFO Gianluca Romano sold 9,076 shares at an average price of $849.35, generating approximately $7.71 million; his remaining direct stake fell by 28.3% to 22,997 shares.
• Seagate shares dropped 6.5% to $794.65 during Monday trading, despite the company recently exceeding quarterly earnings and revenue estimates, with year-over-year revenue growth of 48.5%.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $986, while Seagate declared a quarterly dividend of $0.74 per share.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CFO Gianluca Romano sold 9,076 shares of Seagate Technology stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $849.35, for a total transaction of $7,708,700.60. Following the completion of the transaction, the chief financial officer directly owned 22,997 shares in the company, valued at approximately $19,532,501.95. The trade was a 28.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Gianluca Romano also recently made the following trade(s):

• On Friday, August 7th, Gianluca Romano sold 7,240 shares of Seagate Technology stock. The stock was sold at an average price of $781.64, for a total transaction of $5,659,073.60.
• On Friday, August 7th, Gianluca Romano sold 14,091 shares of Seagate Technology stock. The shares were sold at an average price of $811.25, for a total transaction of $11,431,323.75.
• On Friday, August 7th, Gianluca Romano sold 880 shares of Seagate Technology stock. The stock was sold at an average price of $845.12, for a total transaction of $743,705.60.
• On Friday, June 12th, Gianluca Romano sold 903 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total value of $794,811.57.
• On Wednesday, June 10th, Gianluca Romano sold 1,350 shares of Seagate Technology stock. The shares were sold at an average price of $821.76, for a total value of $1,109,376.00.

Seagate Technology Stock Down 6.5%

Shares of Seagate Technology stock traded down $55.35 during trading on Monday, reaching $794.65. The stock had a trading volume of 3,203,008 shares, compared to its average volume of 4,427,493. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $180.11 billion, a price-to-earnings ratio of 57.25 and a beta of 2.06. The stock has a fifty day moving average price of $893.23 and a two-hundred day moving average price of $683.35. Seagate Technology Holdings PLC has a 52 week low of $158.68 and a 52 week high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $2.59 earnings per share. Seagate Technology's quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is 21.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STX shares. Argus raised their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Susquehanna increased their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Wells Fargo & Company raised their price objective on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Morgan Stanley lifted their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, Mizuho increased their price target on Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $986.00.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Seagate Technology by 102,975.8% during the second quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider's stock worth $305,658,775,000 after purchasing an additional 316,437,552 shares during the period. State Street Corp lifted its position in shares of Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock valued at $2,587,535,000 after buying an additional 94,527 shares during the last quarter. Morgan Stanley lifted its position in shares of Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock valued at $1,464,391,000 after buying an additional 258,151 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after acquiring an additional 234,436 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after acquiring an additional 243,551 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Company Profile

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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